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Why Does College Cost So Much?$
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Robert B. Archibald and David H. Feldman

Print publication date: 2010

Print ISBN-13: 9780199744503

Published to Oxford Scholarship Online: January 2011

DOI: 10.1093/acprof:oso/9780199744503.001.0001

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The Bottom Line: Why Does College Cost So Much?

The Bottom Line: Why Does College Cost So Much?

Chapter:
(p.82) 6 The Bottom Line: Why Does College Cost So Much?
Source:
Why Does College Cost So Much?
Author(s):

Robert B. Archibald

David H. Feldman

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199744503.003.0006

This chapter summarizes the trio of technology-based arguments offered in the three previous chapters for why college costs have increased so much over the last sixty years. Cost disease, increases in the wages of highly skilled workers, and changes in technology that affect quality have led to increasing costs in higher education and in a set of similar industries. The chapter also explains why the upward march of the inflation-corrected cost of higher education was suspended in the 1970s as the growth of overall labor productivity slowed. The chapter ends with a discussion of the policy implications that flow from the aerial view of the higher education industry.

Keywords:   cost disease, productivity growth, highly skilled workers, policy, technology

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